Nigeria-Brazil Sign $1.1bn Green Imperative Project Agreement

Nigeria and Brazil have signed the commercial phase of the $1.1 billion Green Imperative Project (GIP) to boost agriculture productivity, ensure food security and enhance private-sector investment in Nigeria.

GIP, the largest agricultural project in Africa which prioritizes the development of sustainable, low-carbon agriculture, aims to develop structural conditions to boost food production in Nigeria in an efficient and competitive manner.

The MoU for the $1.1 billion GIP 1 was signed in 2018, while the $4.3 billion phase 2 of the project and the $2.5 billion component were signed in Brazil during President Bola Tinubu’s visit to that country last year.

Speaking at the signing ceremony on Monday, at the Presidential Villa, Abuja, Vice President Kashim Shettima described the signing of the commercial phase of the GIP 1 as part of ongoing efforts by the administration of President Tinubu to enhance food security in the country.

Vice President Shettima said the GIP will leverage on strategic opportunities to drive the nation’s economic growth and boost investor confidence.

He said, “As this administration addresses the food security challenges we are facing and dovetails the 8-point agenda of President Bola Ahmed Tinubu, it is imperative for us to synergise and use existing initiatives such as the GIP for the purpose of policy continuity, for the purpose of utilising or leveraging on strategic opportunities to drive our economic growth and also to enhance investor confidence.”

VP Shettima noted that while the GIP aligns with all the policies and programmes of the Tinubu administration, it will link small-scale farmers with all the agricultural value chains in the country.

He noted: “We have been battling with low agricultural productivity for decades, and as I have always said, entrepreneurial capitalism is embedded in the very psyche of the average Nigerian, but what our people are lacking is the wherewithal to be placed on the first ladder of development.

“This GIP is a wonderful opportunity because it seamlessly aligns with all the policies and programmes of this government. It is a private sector driven initiative that targets the small-scale farmer and links him up with all the agricultural value chains.

“Today, to me, is a highpoint of our leadership in this country. Yes, we have started seven years behind but the journey of a thousand miles begins with a step. 2025 as rightly captured by His Excellency, the Brazilian Ambassador to Nigeria, is a milestone year in our journey towards food security and diversification of our nation’s economy.”

The Vice President gave credit to the Minister of Agriculture, the Minister of Finance and Coordinating Minister of the Economy, the Attorney General of the Federation and Minister of Justice, the Foreign Affairs Minister, among others for the success of the project.

The Ambassador of Brazil to Nigeria, Carlos Garcete said it is a great honour for Brazil to associate with the Green Imperative Project (GIP), saying “over the past seven years, there has been negotiation with the Nigerian government with a view to obtaining the necessary funds from private and regional development banks to finance this ambitious project, which is worth approximately $1.1billion dollars.”

On behalf of the Brazilian government, Mr. Garcete thanked President Bola Tinubu for bringing the long negotiation to a fruitful conclusion.

In his goodwill message, the Governor of Jigawa State, Alhaji Umar Namadi, expressed delight over the signing of the agreement noting that “for us at the sub-national level, it is a very important day for us because agriculture plays an important role in the economy of the country.”

He also noted that the signing of the agreement underscores the high level commitment of the President Tinubu’s Administration in improving and transforming agriculture in Nigeria.

The Governor of Benue State, Rev. Fr. Hyacinth Alia, said Benue State, being the food basket of the nation, is the happiest state among the sub-nationals to witness the signing of the agreement.

Assuring that the government of Benue state will give full support to the success of the project, he said, “Benue State does not only hold the basket but the food and its surpluses for the nation.”